High Street shops, pharmacies, and music venues are urging Chancellor Rachel Reeves to extend any planned relief from impending business rates increases, currently anticipated for pubs, to include their sectors as well. The call comes amid expectations that the government will soon announce a reversal on the business rates hikes facing pubs in England, following intense criticism from landlords and pub owners, with over 1,000 pubs reportedly banning Labour MPs from their establishments.
Lobby groups and backbench MPs are now advocating for a broader application of the relief, citing concerns that many other businesses will struggle to meet the higher costs. Business rates are slated to increase significantly over the next three years as Covid-era support measures are phased out and property values are adjusted to reflect pre-pandemic business conditions.
Anna Turley, chair of the Labour Party, stated on the BBC's Today programme that the government would maintain open communication with firms. "Where businesses are telling us they are struggling and they need more support it is absolutely right that the chancellor talks to them, engages with the sector and looks at what we can do to assist them," she said.
The impending increases stem from the revaluation of commercial properties, which typically occurs every three years but was delayed due to the pandemic. These valuations determine the rateable value upon which business rates are calculated. The increases are expected to disproportionately impact businesses in areas where property values have risen since the last valuation.
The current business rates system has long been a source of contention for retailers and other businesses, who argue that it places an unfair burden on brick-and-mortar establishments compared to online retailers. The British Retail Consortium has estimated that business rates account for a significant portion of retailers' overhead costs, impacting their ability to invest in growth and employment.
The government has yet to officially announce the details of any potential backtrack on pub business rates, or whether any relief will be extended to other sectors. The Chancellor's upcoming Autumn Statement is expected to provide further clarity on the government's plans for business rates and other support measures for businesses.
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